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Putting Auction Theory to Work
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Putting Auction Theory to Work Paperback - 2004 - 1st Edition

by Paul R. Milgrom


From the publisher

Providing a comprehensive introduction to modern auction theory and its important new applications, this book is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the volume provides the most up-to-date analysis of traditional theories of "optimal auctions" as well as newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. It explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. Paul Milgrom is the Leonard and Shirley Ely Professor of Humanities and Sciences and Professor of Economics, Stanford University. He is the author of more than sixty articles and co-author of the influential textbook, Economics, Organization and Management (Prentice Hall, 1992). Professor Milgrom is a pioneer in the economic theory of auctions and co-designer of the simultaneous, multiple round auction that the FCC adopted for selling radio spectrum licenses. Visit the author's website for instructor resources.

First line

To most telecommunications industry commentators, the main significance of the US spectrum auctions was that a market mechanism was used at all.

Details

  • Title Putting Auction Theory to Work
  • Author Paul R. Milgrom
  • Binding Paperback
  • Edition number 1st
  • Edition 1
  • Pages 368
  • Volumes 1
  • Language ENG
  • Publisher Cambridge University Press, West Nyack, New York, U.S.A.
  • Date 2004-01-12
  • Illustrated Yes
  • ISBN 9780521536721 / 0521536723
  • Weight 1.2 lbs (0.54 kg)
  • Dimensions 8.9 x 6.02 x 0.85 in (22.61 x 15.29 x 2.16 cm)
  • Library of Congress subjects Auctions - Mathematical models
  • Library of Congress Catalog Number 2003051544
  • Dewey Decimal Code 381.170
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